eWise payo Unveils Cutting Edge Mobile Payment Application

Today sees the launch of eWise payo mobile, the smartphone application that consumers have been waiting for, from financial service firm, eWise (www.ewisepayo.com). eWise payo mobile will enable consumers to initiate secure and private payments for goods, services, or bills online or face-to-face, without having to provide personal financial information to any third parties1.

Hot-on-the-heels of the launch of eWise payo, the first and only bank inclusive Online Banking ePayments (OBeP) solution in the UK, the company is debuting its mobile application – eWise payo mobile – at Finovate Europe 2011.

In January, the company introduced eWise payo, the safest and fastest online payment solution, in partnership with the specialist payments partner, VocaLink.

eWise's new mobile app brings a consistent, intuitive, fast and safe way to pay whether online or face-to-face. It enables consumers to pay from any of their accounts with existing funds and provides visibility of account balances at the time of purchase.

Through the mobile solution, consumers can conduct mobile ecommerce transactions, P2P payments, bill payments and T-Commerce2. Using the eWise payo OBeP technology and the hard-linking capabilities of the QR Code, a consumer's online bank account can be enabled for countless purchasing scenarios.

John France, managing director at eWise payo, commented: "Current statistics indicate that 29 percent of UK adults own a smartphone3, and, 54 percent of smartphone users have used their device for a banking transaction4. Given the anticipated growth of these figures, we saw the need to launch a mobile application that would provide a consistent interface for the consumer.

"When we launched eWise payo in January, we indicated that the solution would provide the answer to the industry's demand for improved security. Our mobile version creates an exciting customer experience, and will – I believe - be the biggest positive technological advancement to hit the UK retail banking arena since the introduction of the first ATM in 1967."

eWise is currently in advanced discussions with a number of the high street banks, merchant acquirers, PSPs and merchants. As a result of which, the company has brought forward its initial launch – planned for 2012, and hopes to make an announcement in Q2/Q3 2011.

Notes to editors

About eWise:

eWise is a payments and online financial management solutions provider with a reputation for providing innovative solutions that make transacting online easier and more secure. eWise offices in UK, US, China and Australia support some of the world's top 50 financial institutions with solutions delivering outstanding, proven ROI for its customers and a better online experience for millions of end-users worldwide. For more information, visit www.ewise.com.